Groupe Caravelle Acquires Stake in Naturex

Posted: December 7, 2012

Naturex (Avignon, France) said Groupe Caravelle, a diversified French industrial group with holdings in the pharmaceutical, industrial bodywork, mechanics and hotel sectors, has acquired a stake in the company.

"We welcome Caravelle Group's addition as a shareholder and will propose that Ms. Hélène Martel-Massignac, Caravelle's Chief Executive Officer, be appointed as a new member of Naturex's board of directors", said Naturex's Chairman and CEO, Thierry Lambert. "This proposed nomination will be submitted to a vote at the next shareholders meeting".

Caravelle now owns nearly 1.19 million shares in Naturex, representing 15.4% of share capital and 14.9% of voting rights.

Caravelle's equity investment follows the sale by Natraceutical of its stake that represented 15.35% of the share capital and 8.27% of the voting rights on Dec. 5. Natraceutical, based in Spain, had become a shareholder in December 2009 with a 38% stake after Naturex acquired its ingredients division.

Through this latter acquisition, Naturex doubled in size and gained a strong foothold in the market. Natraceutical had indicated its intention since 2011 to gradually divest its holdings in Naturex's share capital and in recent months has significantly reduced its stake.

All voting rights attached to shares from the conversion of the preferred shares sold by Natraceutical were transferred over to Caravelle.